rather than pick out individual stocks to trade, it can often be worthwhile to trade the indices themselves, especially in times of high volatility.

for those so inclined, i attach below charts for FTSE and FTSE 250, though one might equally be tempted to trade Dow or S&P, which is significantly broader in its coverage, or even NASDAQ

for ease of reading, i have attached 1 year and 3 month charts in each instance

I think you may be right , FTSE / DOW may be worth buying again if they get hammered .

http://www.bbc.co.uk/news/world-asia-35240012

Another index shorting day alright.

And China maybe?

China is to extend a ban on stock sales by large shareholders until permanent rules to restrict such sales take effect, as authorities seek to calm market fears over the lock-up that was due to expire on Friday. China's blue-chip stock index, the CSI 300, tumbled 7% on Monday, raising the spectre of a return to the panic selling of last summer when the main index was down 45% at one stage. Analysts blamed Monday's fall on fears over the impending end of the ban, which was imposed in early July. - Financial Times.

Global stock markets could suffer further turmoil if China's slowdown continues, the International Monetary Fund's chief economist has warned. Markets across the world slumped on Monday, with the FTSE 100 recording its worst start to a year since 2000, after weak economic data from the Asian country. Maurice Obstfeld, who joined the IMF in September, said that further disappointing data from China could cause markets to fall again. - Telegraph.

Gone long FTSE

Whaaaaaaaat? -):

16,950 is dow level to watch and 6070 for ftse

my view is that both could well be breached even if not immediately and i fear with some ease
very uncomfortable times

meanwhile, against the above, jimmy's brave call may not be so stupid


jimmy - sorry to see you were a bit singed by dow last night, but can't win 'em all as you know too well
on the other hand, i'm delighted i was stopped "limit up" earlier in the evening

FTSE
above 6070, the next hurdle is technically 6125, but looking at very recent pattern, i think 6100 may prove quite tricky

Out at with the index up 80, now watch it go higher -):

cynic ,last night i went long at 17060 then at about 8.45pm or there about i was 108 points up so raised my stop to 17100 and got taken out at 17098 (in the night) so 38 points to the good .
However i went long this morning FTSE at 6100 so running about 40 points down at the moment .. Maybe time to go long again DOW plus my bread and butter buying some oversold stocks .

jimmy - i never questioned the level of your relatively minor loss last night

meanwhile, things are now looking very serious across the board

Read again i didn't lose i gained 38 points , i have been good on all apart from one this week which cost me about half the points i had made .

See how today goes i may add to my FTSE long to average down plus the DOW if it gets trounced further may be worth going long ,watch the oil price as an indicator as well..

you're right; i did misread your initial post, but no matter

it's pretty brave to attempt the knife trick though i understand the logic
16,850 and 6,050 are i think the supposed support levels now in play

jimmy shouldn't that read 17098........

It should baler well spotted , no wonder i confused cynic he thought i was a millionaire overnight ..

cynic 17850 has held pre open on DOW .. That was the low so far on IG.

Oil hitting 11 year lows .

just back from the gym, but yes it did
good to see a support doing its job at last :-)

You're wearing a support at the gym? Careful there!

i always wear a body-belt for dead-lifts and squats
i don't and never have had back trouble, and I don't want to start now!

==============

jimmy - with hindsight, i hope you were brave enough to get in at the bottom (Dow) or thereabouts ........ decent recovery currently under way; let's hope it continues

A Gym?.. oh thats so indoors what a wimp o -):